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Skydance Seals $8 Billion Paramount Deal with FCC Approval

By  |  July 24, 2025

The merger between Skydance Media and Paramount Global has officially received the green light from the U.S. Federal Communications Commission (FCC), paving the way for a major reshaping of one of Hollywood’s most iconic studios, according to Bloomberg.

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    This regulatory milestone concludes a lengthy and complex acquisition process that spanned over a year and included legal challenges and policy commitments. As reported by Bloomberg, the FCC’s approval followed Skydance’s agreement to a range of conditions related to political neutrality in programming and the discontinuation of certain diversity initiatives.

    The transaction positions David Ellison, Skydance’s CEO and son of Oracle Corp. co-founder Larry Ellison, at the helm of Paramount Global—a media conglomerate that encompasses CBS, MTV, and Paramount Pictures. Ellison secured the deal last July after months of negotiation with Shari Redstone, whose family has long controlled the company. He ultimately outmaneuvered competing bids from Sony Group Corp. and financier Edgar Bronfman Jr., per Bloomberg.

    Related: Paramount and Skydance Make Their Case: Defending $8 Billion Merger Plan at FCC

    FCC Chairman Brendan Carr acknowledged the potential for reform at Paramount, particularly at CBS, which has faced criticism in recent years. Carr said that Skydance provided written assurances that its content would reflect a broad spectrum of political and ideological perspectives. As part of those commitments, the newly merged company will appoint an ombudsman to investigate and address complaints about bias in programming for a period of two years.

    In addition, the new leadership has agreed to halt diversity, equity, and inclusion (DEI) programs, a move the FCC said aligns the company’s practices with legal standards and public interest principles.

    The deal includes the full integration of Skydance Media into Paramount and a capital infusion exceeding $8 billion from Ellison and investment firm RedBird Capital Partners.

    Source: Bloomberg